A broad rally in New York has set the stage for a positive local open. US 10-year yield hovers near 3 per cent on rate outlook. Follow updates here.
Australian shares are poised to open higher, bolstered by overseas gains as retail sales and industrial production data from the US eased some concerns about the economic outlook.P 500 +2% Nasdaq +2.8%The local currency was 0.7 per cent higher, retaking US70¢; the Bloomberg dollar spot index was 0.7 per cent lower as the US dollar took a breather. On bitstamp.net, bitcoin was up 1.5 per cent to $US30,122 at 6.20am AEST.
Federal Reserve chairman Jerome Powell said the US central bank will “keep pushing” to tighten US monetary policy until it is clear that inflation is declining. “We will go until we feel we are at a place where we can say ‘yes, financial conditions are at an appropriate place, we see inflation coming down.”
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